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2018 an “interesting” year – REINZ

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Here is another interesting Wellington real estate related news article that we thought may provide you with helpful information.

Median prices and sales activity turned in a healthy performance around the country over the course of 2018 in an “interesting” year for real estate, according to REINZ.

By The Landlord

Saturday 22 December 2018

REINZ has released its annual “year in review” data for 2018 and it paints a picture of a solid market – which stands in stark contrast to markets across the Tasman.

However, while 2018’s results were healthy, price growth was off the pace seen in 2017.

It shows the national median sale price increased by 10.6% from January – November 2018 (from $520,000 to $575,000). But this is as compared to 11.2% the same period last year (from $485,500 to $540,000).

In a similar vein, the Auckland median sale price increased by 5.7% from January – November 2018 (from $820,000 to $867,000). But this is as compared to 6.0% for the same period last year (from $830,000 to $880,000).

In contrast, the sales count for New Zealand from January – November 2018 totalled 72,188 which is a 4.2% increase on the same period last year

The sales count in the Auckland region from January – November 2018 totalled 21,202 which is a 4.0% increase on the same period last year.

Days to sell actually decreased both nationally and in Auckland in the January – November 2018 period. Nationally, they were down from 46 to 35 days, while in Auckland they fell from 45 to 37 days.

REINZ chief executive Bindi Norwell says the 2018 property market was dominated by a number of key themes………….

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